Google's much ballyhooed IPO has finally arrived. Now that the dust has settled should investors step up the plate? ThinkEquity Partners says they should.

WE ARE INITIATING COVERAGE of Google with a Buy rating and a price-target of $120. This is about the mid-point of the original filing range. We believe the revised range gives investors upside to the stock and will attract investors given the liquidity and market prominence of the company. Google avoided the Internet bubble by building a simple product,...